November 26th, 2010
News Release No. 208
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

HAWKEYE ARRANGES $500,000 NON-BROKERED PRIVATE PLACEMENT

HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”): Vancouver, British Columbia: Trading symbol: TSX.V: HGO announces that it has arranged for non- brokered private placement  to raise the Company gross proceeds of up to $500,000. The offering will consist of up to 1,625,000 flow-through Units at a price of $0.20 cents per flow-through unit for gross proceeds of up to $325,000 and up to 1,166,666 non-flow-through units at a price of $0.15 cents per non-flow-through unit for gross proceeds of up to $175,000.

Each flow-through unit will consist of one common share which qualifies as a flow-through share for tax purposes of the Income Tax Act (Canada), and one-half of one common share purchase warrant. Each whole flow-through warrant will entitle the holder thereof to purchase one non-flow-through common share for a period of 18 months from the closing date of the offering at an exercise price of $0.30 per common share.

Each non-flow-through unit will consist of one common share and one common share purchase warrant. Each whole non-flow-through warrant shall be exercisable into one common share at a price of $0.25 per common share for a period of 18 months from the closing date of the offering.

If the Issuer Shares have a closing price of Cdn. $0.35 or more per Share for thirty (30) consecutive trading days on TSX-V after the closing date, Hawkeye shall be entitled to give notice to the holders of the Warrants, that the Warrants will expire 30 days from the date of mailing of such notice unless exercised before the expiry of that period, and in such event all unexercised Warrants will expire at 4:30 p.m. (Vancouver Time) on the last day of such 30 day period.

The private placement will be subject to a four (4) month hold from closing and completion is subject to receipt of applicable regulatory approvals and finder’s fees may be paid on a portion of the offering.

The proceeds of the private placement will be used for exploration work on the company’s mineral properties, acquisition and general working capital.

HAWKEYE GOLD & DIAMOND INC.


Greg Neeld
President & CEO


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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